August 10th 2023 – Birmingham, Michigan – CitySide Ventures and GLAF announce adding SciTech to its portfolio of companies.
CitySide Ventures Grate Lakes Angels Fund participated in the companys’ $2.5M Seed round.
SciTech is a clinical stage, biopharmaceutical company that has developed a proprietary nano-delivery system (SciTech Drug Delivery Platform – SDP) to enable intravenous (IV) delivery of water-insoluble drugs. One such challenged drug or active pharmaceutical ingredient (API) is fenretinide, the API in SciTech’s lead drug candidate, has been shown in numerous clinical trials to be a relatively safe and effective anticancer therapy with targeted cancer destroying activity. The patented combination of the new SDP and fenretinide has led to SciTech’s first drug candidate, ST-001 nanoFenretinide, that holds the promise of improving and saving many lives.
“We are pleased that they have not only had a production run and it met FDA requirements, the drug is safe, UPMC has signed on as the 1st clinical test site – these are some of the de-risking they have achieved thus far. Looks very promising! ”– David Weaver – President Emeritus, CitySide Ventures
CitySide Ventures is to become a premier Investment group committed to taking Michigan Angel investing to a new level by building a network of active, progressive, and innovative investors committed to turning Michigan into a powerhouse startup ecosystem.